Jokowi: Indonesia needs IDR 1,650 trillion investment to encourage economic growth

Indonesia needs both direct investment and indirect investment to boost its economic growth above 5 percent in 2024.

Indonesian President Joko Widodo (Jokowi) said that to achieve the 2024 economic growth target of 5.1-5.7 percent, investment realization of IDR 1,650 trillion is needed.

Achieving investment realization of IDR 1,650 trillion in 2024 is not an easy thing amidst the current global situation. Therefore, the President emphasized to each party to work hard to attract investment according to the target so that economic growth in 2024 is achieved.

According to Jokowi, experience in 2022 and 2023 teaches that without investment it is difficult to achieve increased economic growth. This is because the Indonesian economy still requires capital flows to stimulate growth.

Scroll untuk membaca

Jokowi asked for improved service to investors. The Ministry of Investment/BKPM and also local governments need to immediately follow up on all problems faced by investors.

Investment Minister Bahlil Lahadalia is optimistic that the investment target of IDR 1,400 trillion this year can be achieved in the remaining time. Quoting data from the Ministry of Investment, investment realization for the January-September period or the third quarter only reached IDR 1,053.1 trillion.

In other words, IDR 346.9 trillion is still short of achieving this year's target in three months. Bahlil explained that investment coming into Indonesia has been evenly distributed throughout all regions, even investment outside Java has been higher than Java, which has been happening since the third quarter of 2020.